NEW YORK--(BUSINESS WIRE)--Vivrelle, the first-of-its-kind membership club that provides access to a shared closet of designer handbags, jewelry, and diamonds, announced today the close of a $26 million Series A financing round led by Origin Ventures, with participation from Chapford Capital Group.
Vivrelle has built a community around sustainable, flexible, and affordable luxury accessories. Rethinking how people utilize their closets and value experiences over ownership, the membership club allows consumers to experience items for as long as they would like or swap them out monthly. Vivrelle also elevates the try-before-you-buy model by offering members-only discounts to purchase items from Vivrelle’s closet. Encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.
Since inception, Vivrelle has been at the forefront of the sharing and resale economies that are shaping the future of luxury fashion and retail. Vivrelle experienced triple-digit growth in 2020, and with the current financing, Vivrelle is poised for rapid expansion on all fronts, including admitting thousands of additional members off of its growing waitlist.
“We are thrilled to close our Series A funding with the support and confidence of Origin Ventures and Chapford Capital Group. This round of financing will allow Vivrelle to scale its one-of-a-kind platform and continue offering individualized and unparalleled customer service to our community of members,” said Blake Geffen, Co-founder and CEO of Vivrelle. “It’s an exciting opportunity to advance the growth of circular fashion and be at the forefront of reimagining consumers’ shopping experience.”
“Vivrelle is uniquely positioned at the intersection of the exploding resale and shared economies,” said Origin Ventures Managing Partner Jason Heltzer. “Its understanding of Digital Natives – Millennials and Gen Z consumers who spend differently than previous generations – has enabled it to build an incredible business that provides on-demand access to luxury brands at the speed of fast-fashion without compromising on environmental impact and quality. Origin Ventures is proud to partner with Vivrelle’s world-class team and co-investor, Chapford Capital Group.”
The Series A funding will enable the company to support membership growth, expand its product offering to meet increased membership demand, amplify marketing initiatives and partnerships, and scale its services, operations, and internal teams.
Founded in September 2018 by newlyweds Blake and Wayne Geffen, Vivrelle is a first-of-its-kind membership club that provides access to a shared closet of coveted designer handbags, jewelry and diamonds for a monthly membership fee. With a dedication to making luxury accessories fun, flexible, affordable, and sustainable, Vivrelle provides members with the ability to borrow items with no return date. In a fresh take on the try-before-you-buy model, Vivrelle members are also able to purchase items they love from Vivrelle’s closet at exclusive members-only discounted prices. Encompassing the true meaning of a membership club, Vivrelle offers exclusive club perks, further transforming the way consumers experience luxury in everyday life.
About Origin Ventures
Origin Ventures is an early-stage venture capital firm founded in 1999 that invests in high-growth technology companies creating software and marketplaces for the “Digital Native Economy.” Origin Ventures was an early investor in Grubhub, Cameo, BacklotCars, Tovala, Tock, 15Five, and other market leaders. The investment team members are all former operators and engineers with an average of 15 years of venture investing experience, with experience at Google, Twitter, SAP and Metromile, among others. Origin's offices in Chicago and Salt Lake City provide access to opportunities in the U.S. and Canada.
About Chapford Capital Group
Chapford Capital Group is a private opportunistic credit fund that focuses on senior credit investments to early to mid-stage companies that have strong management teams and leverageable assets. Chapford’s offices in Stamford and Greenwich Connecticut primarily focus on opportunities in North and South America.